Markel Group Inc. Makes New $1.72 Million Investment in Tyler Technologies, Inc. $TYL

Markel Group Inc. acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 5,400 shares of the technology company’s stock, valued at approximately $1,720,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TYL. BlackRock Inc. bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at $1,129,890,000. Principal Financial Group Inc. grew its holdings in shares of Tyler Technologies by 20.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock worth $597,681,000 after purchasing an additional 291,564 shares in the last quarter. Bank of America Corp DE increased its position in shares of Tyler Technologies by 10.5% in the first quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock worth $138,696,000 after purchasing an additional 38,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tyler Technologies by 13.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock worth $117,211,000 after purchasing an additional 48,832 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Tyler Technologies in the second quarter worth $88,645,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TYL shares. Piper Sandler began coverage on Tyler Technologies in a research note on Monday, September 28th. They issued an “overweight” rating and a $450.00 price target for the company. Zacks Research downgraded shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. BTIG Research raised their target price on shares of Tyler Technologies from $400.00 to $430.00 and gave the company a “buy” rating in a report on Friday, October 30th. DA Davidson reissued a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, October 27th. Finally, Wells Fargo & Company boosted their target price on shares of Tyler Technologies from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.88.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the completion of the transaction, the chief executive officer owned 100,392 shares of the company’s stock, valued at approximately $39,471,122.64. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey Puckett sold 8,500 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $356.44, for a total transaction of $3,029,740.00. Following the completion of the transaction, the chief operating officer directly owned 7,784 shares of the company’s stock, valued at $2,774,528.96. This trade represents a 52.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,750 shares of company stock worth $10,409,748 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Up 0.2%

NYSE TYL opened at $404.60 on Wednesday. The business has a fifty day moving average price of $353.93 and a two-hundred day moving average price of $337.07. The stock has a market capitalization of $16.09 billion, a PE ratio of 50.96, a PEG ratio of 2.66 and a beta of 0.74. Tyler Technologies, Inc. has a fifty-two week low of $270.71 and a fifty-two week high of $481.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.04. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. The company had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. During the same quarter last year, the company posted $2.91 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Tyler Technologies, Inc. will post 10.13 earnings per share for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.